ACCO Brands Earnings: Here’s Why Investors are Not Happy Now
ACCO Brands Corporation (NYSE:ACCO) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 10.35%.
ACCO Brands Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.07 in the quarter versus EPS of $-0.02 in the year-earlier quarter.
Revenue: Rose 21.84% to $352 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS loss of $0.07 per share. By that measure, the company missed the mean analyst estimate of $0. It missed the average revenue estimate of $386.18 million.
Quoting Management: “Despite the tough environment I’m pleased with the progress our team made to drive cost synergies and productivity savings, as well as operating cash flow,” said ACCO Brands President and Chief Executive Officer Boris Elisman. “We are well-positioned for our largest selling season and have initiated additional productivity improvements to ensure that we deliver our full-year earnings targets.”
Key Stats (on next page)…